Answer:
Prices ensure an equal distribution of goods and services among consumers.
Explanation:
The price mechanism helps in the efficient allocation of resources. There are a number of functions performed by the price mechanism. Prices send signals regarding resources. An increase and decrease in prices reflect surplus and deficit.
Price balances the demand and supply of a product. Price is inversely related to demand and positively related to the supply of a product. It is determined by the interaction of demand and supply and helps in balancing supply and demand.
For instance, an increase in demand would increase the price, this higher price will motivate the suppliers to increase quantity supplied thus balancing demand and supply.
Price helps in coordinating economic activities and helps buyers and sellers in decision making. However, they do not help in equal distribution of goods and services among consumers.
Answer:
The projected Net Income is $70,784
Explanation:
The Pro- forma income Statement
Working Note:
Variable cost = Sales × 44%
= $585,000 × 44%
= $257,400
EBT (Earnings before Tax) = Sales - Variable cost - fixed cost - depreciation
= $585,000 - $257,400 - $187,000 - $51,000
= $89,600
Net Income = EBT × Tax rate
= $89,600 × 21%
= $70,784
Answer:
Stillman should register as an investment adviser representative in state P.
Explanation:
Investment adviser representatives (IARs) must necessarily register in the state that they work in. In this case, Rock, Feller, and Standard (RFS) must be registered in all the states where it has offices functioning, but Stillman only needs to register in the state where his office is. If Stillman worked half year in state P and the other half in state M, then he would need to register in both states. But since this is not the case, then registering in state P should be enough.
Answer:
Explanation:
The money spent on domestically produced final goods and services: is equal to GDP.
<u>Gross domestic product, or GDP, is the total value of all final goods and services produced in the economy during a given year. </u>
GDP is used as a measure of the size of an economy and can also be used to compare the economic performance in other countries.
Answer:$9,000
Explanation:
The tax credit offered to adoptive parents to encourage adoption is reffered to as ADOPTION TAX CREDIT. The adoption tax credit is a nonrefundable tax credit. This means that people owing taxes are also fit or qualified to apply for the adoption tax credit.
In the United States of America, adoption tax credit qualified expenses include court costs, traveling expenses, lawyer's or Attorney's fee and other expenses for legal adoption of an eligible child.
It can be calculated by subtracting
the max's employer provided for the couple with adoption benefits of $4,000 from the incurred expenses of a total of $13,000 in qualified adoption expenses(from the question).
That is; $13,000-$4,000.
= $9,000.
Hence, the maximum amount of adoption credit they can take this year is $9,000.
